Paying for trailer from the US

[Ronn]

Originally Posted by Bernese Bunch

Has anyone paid the full amount for their Escape upfront? The exchange rate is so good now but, will it be when the future payments would normally be due?

We have a June delivery and we have made 4 payments, our balance is now 3459LONNIES ($3459 Canadian). We will pay that when we pick up.

[Ronn]

Originally Posted by Ronn

We have a June delivery and we have made 4 payments, our balance is now 3459LONNIES ($3459 Canadian). We will pay that when we pick up.

BUT the fire did make me consider how smart that was. I didn't lose any sleep over it. It was comforting to get reports that business was back on track the following day. Also, the email put out by Reace was also reassuring.

[Seneca]

You guys can have the exchange rate fun you want.

Personally, I put the deposit on a credit card in November, and got an exchange rate of $.76-.77USD/$Cdn, I paid for the balance with a wire out of Fidelity to ETI that I initiated the day before my completion date and that was credited to ETI the day after my completion date, at an exchange rate, drumroll please, of $.76-.77. During the four months of so from order to completion the rate went a penny or so higher at one point and two or three cents lower at another. Kind of a non-event.

BTW, I am a Fidelity customer, I bought Canadian dollars in my Fidelity account and then had them wired to ETI using wiring instructions that ETI provided me. There was a $17.50Cdn charge on ETI's end, no fee to me on my end, and I bought the dollars at a retail rate that was 100 basis points over the posted rate between financial institutions. Fidelity has break point pricing so that the 100 basis points declines on larger purchases, but the first break point is something like $100,000.

[cpaharley2008]

Originally Posted by Ronn

We have a June delivery and we have made 4 payments, our balance is now 3459LONNIES ($3459 Canadian). We will pay that when we pick up.

I'm curious how you will be paying the balance on pick up? A personal check or cash? Not sure they will take a credit card if you have already used one for a deposit.

[Ronn]

Originally Posted by cpaharley2008

I'm curious how you will be paying the balance on pick up? A personal check or cash? Not sure they will take a credit card if you have already used one for a deposit.

We haven't a plan for last payment, I am thinking we would likely use a check as that is how we have paid everything (except the $2500). As I now think of it, I can see where that may not work due to the exchange rate. I will contact ETI and present the question to them. Thanks for bringing that to my attention Jim.

[Oldtimer]

If paying by check US it must be a certified cashiers ck made out to ETI

[cpaharley2008]

Right, they will not release the unit until the check clears, so you may have to mail it in a week before.

[Ronn]

Here is what I received from ETI
Good Morning Ronn,

Thank you for your email.

We would not be able to accept a personal check for your final balance. Personal checks can only be accepted up until 2 months prior to your completion date. I have attached the other options:

Certified Cheque – This is either a Bank Draft (Canadian Customers) OR a Cashier’s Check (US Customers)
Should be made payable to Escape Trailer Industries.
Can be brought with you to your Orientation. (If it is within your 30 days)
Please do not mail cheques. We strongly encourage you to use a Courier such as UPS, FedEx. If you choose to use your local postal system. Ensure you have a tracking number.

WT – This can be processed in either US or Canadian Funds. (Please see attached) Once a WT has been processed please ensure you email accounting and provide us with the following information:
The date the WT was initated.
The amount and currency (USD or CDN)
A copy of the WT confirmation (If possible)
Please note ALL wire Transfers are subject to a processing fee of $17.50

If you are a US customer and wish to process payment in US funds please contact our Accounting Department for a suggested dollar amount. With the current exchange rate $1.00usd is worth approximately $1.29cdn. The US/CDN exchange rate changes daily.

I am more than happy to recommend an amount to keep you close to the balance due: - Everytime we exchange money the bank takes their share. This is why we recommend retaining a small balance for the Orientation and processing this amount by credit card at the time of your Orientation.

With your balance of $3,154.29 CDN, based on today’s exchange rate, we would suggest an amount of $2,400 USD to keep just a small balance remaining to allow for fluctuation in the exchange rate.

Please feel free to forward any questions you may have.

Warm regards,
Meagan Rocheleau, Bookkeeper

[lesliebooth]

Originally Posted by GeorgiaBill

Not as easy as I expected. Once I entered the Swift code, a Schwab $25.00 wire transaction fee appeared. Also a pop-up stating "foreign currency wires cannot be done online".


I'll try TransferWise next. Like many of you I want to know the exchange rate and fees when the transfer is initiated.

I paid with a CAD $ wire using Schwab. I called and got the international wire form. Filled it out, then posted it in my account. After that I called to finish the process via phone. I had the $25 fee and they gave me the US dollar amount that would be deducted from my account for the CAD $ I asked for. I had the current live exchange rate up online during this time, so I could see what they deducted before I would confirm. I think I only lost about $200 worth of exchange rate for the entire cost of the trailer. The Escape bank did take a $17.50 fee from one of my payments though.

[jnfrombigt]

I bank with USAA. I contacted them and ask what info did they need for an international wire transfer. I also had them email me a copy of that list and I forwarded that list to Escape accounting. Escape accounting then sent me an email with the required info that I needed for my bank. I submitted a wire transfer on Wednesday and Escape acknowledged receipt of the funds today. I think because of the amount involved I had to call USAA with the transfer info. I have paid Escape by credit card (initial order), personal check (cost me $53 to Fedex) and wire transfer. My best exchange rate has been through wire transfer (also fees were less than Fedex mail delivery) jn

[cpaharley2008]

I believe USAA is a regional bank and it like my bank has to go thru an international bank, Wells Fargo was the one my bank used. All of this cost extra fees. DHL cost me $35, next day delivery.

[LIJ Michael]

Originally Posted by jnfrombigt

<sniped>...personal check (cost me $53 to Fedex) ... <sniped>

Today I sent a personal check via USPS Priority Express Mail International for $44.50. It is scheduled to arrive at ETI on the 23rd of this month, gotta love customs.

[jnfrombigt]

When I sent the check Fedex, Escape received it the next day and that was from Augusta GA. I forgot to mention earlier, on international wire transfers USAA will transfer the funds in USD or foreign currency.

[RicVic]

When we picked up our 5.0 TA in 2017, we had a small amount left to pay so Tammy said we could pay with our debit or credit card. Super easy. Check with ETI to see what they suggest.

[Bernese Bunch]

Originally Posted by Ronn

Here is what I received from ETI
Good Morning Ronn,

Thank you for your email.

We would not be able to accept a personal check for your final balance. Personal checks can only be accepted up until 2 months prior to your completion date. I have attached the other options:

Certified Cheque – This is either a Bank Draft (Canadian Customers) OR a Cashier’s Check (US Customers)
Should be made payable to Escape Trailer Industries.
Can be brought with you to your Orientation. (If it is within your 30 days)
Please do not mail cheques. We strongly encourage you to use a Courier such as UPS, FedEx. If you choose to use your local postal system. Ensure you have a tracking number.

WT – This can be processed in either US or Canadian Funds. (Please see attached) Once a WT has been processed please ensure you email accounting and provide us with the following information:
The date the WT was initated.
The amount and currency (USD or CDN)
A copy of the WT confirmation (If possible)
Please note ALL wire Transfers are subject to a processing fee of $17.50

If you are a US customer and wish to process payment in US funds please contact our Accounting Department for a suggested dollar amount. With the current exchange rate $1.00usd is worth approximately $1.29cdn. The US/CDN exchange rate changes daily.

I am more than happy to recommend an amount to keep you close to the balance due: - Everytime we exchange money the bank takes their share. This is why we recommend retaining a small balance for the Orientation and processing this amount by credit card at the time of your Orientation.

With your balance of $3,154.29 CDN, based on today’s exchange rate, we would suggest an amount of $2,400 USD to keep just a small balance remaining to allow for fluctuation in the exchange rate.

Please feel free to forward any questions you may have.

Warm regards,
Meagan Rocheleau, Bookkeeper

I attempted a wire transfer for my deposit yesterday. Megan was my contact from accounting. It became a bit of a nosebleed so I paid it on my credit card. However, they cannot take a credit card to pay for anything over $3k. I'll wire the balance to them. There was a missing piece of info that stopped the entire wire transfer. My credit union needed a National Routing Code. Megan didn't know what that was and my credit union didn't know what that was. Ugh! Anyone know what that is?

[cpaharley2008]

Originally Posted by Bernese Bunch

I attempted a wire transfer for my deposit yesterday. Megan was my contact from accounting. It became a bit of a nosebleed so I paid it on my credit card. However, they cannot take a credit card to pay for anything over $3k. I'll wire the balance to them. There was a missing piece of info that stopped the entire wire transfer. My credit union needed a National Routing Code. Megan didn't know what that was and my credit union didn't know what that was. Ugh! Anyone know what that is?

They can take a $2500 cc for your deposit and you can then mail or use FedEx or DHL to overnight your check for the balance. Simple, but it has worked for my last 4 Escapes.

[Bernese Bunch]

Originally Posted by cpaharley2008

They can take a $2500 cc for your deposit and you can then mail or use FedEx or DHL to overnight your check for the balance. Simple, but it has worked for my last 4 Escapes.

Thanks. I may pre-pay and convert while the rates are good. I'll talk to my bank again. They may be able to convert to CAD and hold the money until it's due to Escape.

[jnfrombigt]

Originally Posted by Bernese Bunch

I attempted a wire transfer for my deposit yesterday. Megan was my contact from accounting. It became a bit of a nosebleed so I paid it on my credit card. However, they cannot take a credit card to pay for anything over $3k. I'll wire the balance to them. There was a missing piece of info that stopped the entire wire transfer. My credit union needed a National Routing Code. Megan didn't know what that was and my credit union didn't know what that was. Ugh! Anyone know what that is?

The "SWIFT" code is what is used for wire transfers between the US and most other countries. That code contains the country code along with the bank's international ID. When I contacted my bank I just read the info directly from the sheet that Meagan emailed. It wound up being the easiest and least expensive way for me to send Escape their money. Good Luck jn

[Ronn]

Originally Posted by Bernese Bunch

Thanks. I may pre-pay and convert while the rates are good. I'll talk to my bank again. They may be able to convert to CAD and hold the money until it's due to Escape.

If your bank can do that, it seems like a good alternative to prepaying like we did. For those prepaying, we didn't get into what was the cheapest alternative (fees and exchange rate), rather we felt that the exchange rate was favorable and we just sent payments by check through the US Mail, didn't seem long we received an updated build sheet reflecting our payment. We sent a payment of $4000 on 3/15/19 and was credited Canadian $5220.80 on 3/25/19. One US stamp and our postman picked it up at our house. EASY-PEASY

[garyjohn]

Hi all! Longtime lurker, first time poster with a 19' on order for August delivery. I can vouch for TransferWise. I've made thee payments to ETI through them and with my down payment via CC the trailer is within pocket change of being fully paid for. TransferWise debited my Capital One online account for a total of $30,300, with $40,249.81 credited to ETI's account. Total fees for all three payments was $223.95 or .0074%. There were no fees charged at the receiving end from ETI's bank. I watched the exchange rate and tried to keep my transfers at or below .75 USD to CAD. Total in the end including all fees was .753 or 1.328 CAD to USD. I am all set to retire at the end of July with a pick-up date at ETI for August 12. Let the adventures begin!!

Best regards to all of the posters here who have been so helpful in getting us to this point. Gary.